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  • Starlight Graphics LTD Signed A 10 Year 6-5-700 000 Mortgage On

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    Bube Kachevska
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    Starlight Graphics Ltd. signed a 10-year mortgage on June 30, 2017 for $700,000 at an annual interest rate of 6.5% to finance a new research laboratory. The mortgage terms require semi-annual blended principal and interest payments of $48,145 due on December 31 and June 30 each year. The company's fiscal year ends on June 30.

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    Starlight Graphics Ltd Signed a 10 Year 6-5-700 000 Mortgage On

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    Starlight Graphics Ltd Signed a 10 Year 6-5-700 000 Mortgage On

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    Starlight Graphics Ltd. signed a 10-year mortgage on June 30, 2017 for $700,000 at an annual interest rate of 6.5% to finance a new research laboratory. The mortgage terms require semi-annual blended principal and interest payments of $48,145 due on December 31 and June 30 each year. The company's fiscal year ends on June 30.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    26 views1 page

    Starlight Graphics LTD Signed A 10 Year 6-5-700 000 Mortgage On

    Uploaded by

    Bube Kachevska
    Starlight Graphics Ltd. signed a 10-year mortgage on June 30, 2017 for $700,000 at an annual interest rate of 6.5% to finance a new research laboratory. The mortgage terms require semi-annual blended principal and interest payments of $48,145 due on December 31 and June 30 each year. The company's fiscal year ends on June 30.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    Starlight Graphics Ltd signed a 10 year 6 5 700 000

    mortgage on #8637
    Starlight Graphics Ltd signed a 10 year 6 5 700 000 mortgage on

    Starlight Graphics Ltd. signed a 10-year, 6.5%, $700,000 mortgage on June 30, 2017, to help
    finance a new research laboratory. The mortgage terms provide for semi-annual blended
    principal and interest payments of $48,145. Payments are due on December 31 and June 30.
    The company's yearend is June 30.

    Instructions

    (a) Prepare an instalment payment schedule for the first two years. Round all amounts to the
    nearest dollar.

    (b) Record the receipt of the mortgage loan on June 30, 2017.

    (c) Record the first two instalment payments, on December 31, 2017, and June 30, 2018.

    (d) Show the statement of financial position presentation of the mortgage payable at June 30,
    2018.

    Starlight Graphics Ltd signed a 10 year 6 5 700 000 mortgage on

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